Mike "The Situation" Sorrentino: Reality TV Star Turned Millionaire

Mike “The Situation” Sorrentino will reportedly be raking in about $5 million this year, Time Magazine reports.

The 27-year-old former stripper, who is now a reality television phenomenon, will embark on numerous side-projects this year (on top of being paid $60,000 an episode to “GTL” all day and party all night on MTV’s Jersey Shore) to pull in millions of dollars.

“The Situation” will reportedly make $1 million in appearance fees alone, for merely showing up at an event and most likely flashing a peek at his famous abs. Speaking of abs, the reality TV star is working on several fitness videos and capitalizing on his fitness regimen for all those wanting his famous wash-board abs.

In addition, he’s working on a supplements line, coming out with an iPhone app based on his “GTL” routine, attempting a music career and endorsing a line of vodka.

There’s more! Sorrentino is penning a book, appropriately entitled "Here’s The Situation." However, the most recent news surrounding his booming career is his dancing debut on Dancing with the Stars.